NEW YORK (TheStreet) -- Shares of Gray Television Inc. (GTN) are higher by 2.42% to $13.10 as broadcasting stocks continue to see gains resulting from last Wednesday's U.S. Supreme Court ruling that Aero Inc., an online video streaming service, violated copyright laws by allowing its customers to watch broadcast TV programs on the website.
Over the weekend Aero halted its operations so the company can re-evaluate its strategy following the court's decision, the Wall Street Journal reported.
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TheStreet Ratings team rates GRAY TELEVISION INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate GRAY TELEVISION INC (GTN) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and poor profit margins."